Fox Corp reported second-quarter FY22 revenue growth of 9 percent year-on-year to $4.44 billion, beating the consensus of $4.26 billion. Affiliate revenues increased 11 percent Y/Y to $1.69 billion with 12 percent growth at the Cable Network Programming segment and 10 percent growth at the Television segment. Advertising revenues increased 6 percent Y/Y to $2.41 billion, primarily due to continued pricing strength at the FOX Network, underpinned by the strength of the Company’s sports portfolio, and continued growth at Tubi. Other revenues increased 20 percent to $345 million, led by higher sports sublicensing revenues at the Cable Network Programming segment. Adjusted EPS of $0.13 beat the consensus of $0.03. Fox held $4.3 billion in cash and equivalents. Dividend: Fox declared a dividend of $0.24 per share. Share Buyback Fox authorized a $4 billion stock repurchase program. “These strong results and broad-based operating momentum are underpinned by the most valuable news franchise in the …
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